Genial set BRL 20.00 target for Vulcabras stock

Published on 10/14/2026 at 03:06 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Second-quarter revenue rose 11.20 percent year over year. Vulcabras stock shows BRL 5.0 billion market value on October 14, 2026.

Operating growth and valuation

Genial Investimentos set a BRL 20.00 price target for Vulcabras on September 14, 2026.
Second-quarter revenue reached BRL 994.80 million, up 11.20 percent year over year.
Vulcabras had a BRL 5.0 billion market capitalization on October 14, 2026.

Vulcabras, BRVULCACNOR2, Illustration mit AI erstellt.

Genial Investimentos set a BRL 20.00 price target for Vulcabras stock on September 14, 2026, according to Genial Investimentos. The report paired the target with a purchase recommendation and a thesis centered on Olympikus, Under Armour and Mizuno.

Three dated developments

On December 22, 2025, Vulcabras had an ex-dividend date for a BRL 0.65 payment, per BolsaData. On August 5, 2026, the company reported second-quarter and first-half results for the period ended June 30, 2026, according to MarketScreener. Genial then published its BRL 20.00 target on September 14, 2026.

Revenue growth meets financial pressure

Vulcabras generated BRL 994.80 million of revenue in the second quarter of 2026, an 11.20 percent increase from the second quarter of 2025. A Revista reported recurring EBITDA of BRL 208.60 million, up 9.30 percent year over year, while recurring net income reached BRL 143.70 million, down 0.80 percent.

The contrast is important for the valuation case. First-half net debt was BRL 576.00 million, below BRL 769.00 million at the end of 2025, while the net debt-to-EBITDA ratio declined from 0.90 times to 0.70 times, according to the same September analysis published by EuQueroInvestir.

What is driving the valuation gap?

Genial's target is based on a discounted cash flow model with a 14.10 percent cost of equity and 2.00 percent real perpetual growth, as detailed in its September 14, 2026 report. The counterweight is balance-sheet normalization: the extraordinary 2025 dividend increased borrowing and reduced the room for the monthly dividend policy that had supported part of the shareholder base.

Vulcabras trades on B3 under ticker VULC3 in the Consumer Cyclical sector, with footwear as its core business, according to OBM. Its operating portfolio combines the Olympikus brand with exclusive Brazilian licenses for Under Armour and Mizuno.

November reporting dates

Vulcabras is scheduled for a third-quarter 2026 earnings release on November 10, 2026, followed by an earnings presentation on the same date, according to MarketScreener. Those dates will put the focus on whether lower leverage continues to improve the path from revenue growth to net income.

Market value and yearly range

Vulcabras had a market capitalization of BRL 5.0 billion and a 52-week range of BRL 12.72 to BRL 22.43 as of October 14, 2026. The market data place the latest valuation between the company's yearly low and high while the next reported quarter approaches.